The Federal Government says it is studying the situation on change of West African Economic and Monetary Union, UEMOA currency, Eco, to be used as ECOWAS single currency.

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, made this known in a statement by Yunusa Abdullahi, her Special Adviser, Media and Communication, in Abuja.

Eight West African countries have agreed to change the name of their common currency to Eco, thereby effectively severing the CFA franc’s links to former colonial ruler France.

The countries include Benin republic, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo with Ahmed saying Nigeria as a country would respond in due course.